An update from WH Group Limited ( (HK:0288) ) is now available.
WH Group Limited announced the successful pricing and commencement of trading for Smithfield Shares on the Nasdaq Global Select Market, marking a significant step in its proposed spin-off. The offering involved the sale of over 13 million shares, with additional shares available through an over-allotment option, potentially reducing WH Group’s stake in Smithfield to 92.4%. The transaction is expected to generate substantial proceeds, enhancing Smithfield’s financial position, and involves a connected transaction where the company’s chairman subscribed to a significant portion of the shares.
More about WH Group Limited
WH Group Limited is a leading company in the meat processing industry, primarily known for its pork products. It holds a significant market presence through its subsidiary, Smithfield, which is a major player in the global food industry.
YTD Price Performance: 2.89%
Average Trading Volume: 2,235
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $10B
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